Agenda - Council - 03/26/2013 - Laserfiche WebLink

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The Council does not need to make a decision on how to use proceeds from this transaction now. However, Staff would like to identify options: • New Industrial Park • Armstrong Boulevard/Highway 10 Interchange • Bunker Lake Boulevard Alternatives: (1) Accept Offer [Staff Recommendation] Approve the sale of surplus City owned land located at 14280 Azurite St NW to Diamond Graphics, Inc. for $410,000; and, Introduce ordinance 13-08 to sell surplus city owned land; and Direct Staff to work with Diamond Graphics to draft a purchase agreement and to schedule a closing date (2) Counter Offer Authorize Staff to draft a counter offer to the prospect for the sale of City owned property located at 14280 Azurite Street NW (3) Deny Standing Offer Reject the standing offer and do not direct Staff to draft a counter offer to the prospect for the sale of City owned property located at 14280 Azurite Street NW Recommendation: (1) Accept Offer Approve the sale of surplus City owned land located at 14280 Azurite St NW to Diamond Graphics, Inc. for $410,000; and, Introduce ordinance 13-08 to sell surplus city owned land; and Direct Staff to negotiate with Diamond Graphics for a purchase agreement for the sale of the Subject Property and to schedule a closing date Based on previous Council direction, the standing offer of $410,000 meets Council objectives. Selling the Subject Property to Diamond Graphics puts the City is a strong position to retain a fast growing and successful Ramsey business. Funding Source: NA Council Action: Accept Offer Approve the sale of surplus City owned land located at 14280 Azurite St NW to Diamond Graphics, Inc. for $410,000; and, Introduce ordinance 13-08 to sell surplus city owned land; and Direct Staff to to negotiate a purchase agreement with Diamond Graphics for the sale of the Subject Property. Details of the purchase agreement will be reviewed with the Council at the time the Sale Ordinance is presented for approval.